Hello Hassan, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Audit requirement is [source: Gov UK Web Site]:
'Your company may qualify for an audit exemption if it has at least 2 of the following:
There is no statutory requirement regarding books of account save that they must be capable of showing a true and fair view of the company's affairs.
You will presumably set up a private limited company in the UK to operate in that country.
You can find a general guide as to how accounts should me maintained and presented:
The only statutory registration is with Companies House. Any company formation boutique does this for you anyway. You have to make an Annual Return and also a Corporation Tax Return. The latter provides an ability for the abbreviated accounts to be extracted for Companies House and filed together with the tax return.
Companies are not subject to Income Tax, but Corporation Tax. I presume that you will employ local professionals to run the accounts.
I do hope that I have shed some light on your question.
Thank you for your support.
Your obvious solution wold be to set up a private limited company in the UK to conduct this business. This company would have to have a Registered Office in the UK, but there is no requirement for shareholders and/or directors to be British Citizens or even be resident in the UK.
I should have mentioned that if this company's turnover exceeds 83K in any one year they it would have to register for VAT and charge the standard rate of 20% on its service invoices. Corporation tax is at 20%.
Delighted to have been of assistance, Hassan.
Thank you for your most generous bonus.
Just a post to clear my question list.